Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued to clients and investors on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Steel Partners stock opened at $43.00 on Friday. Steel Partners has a fifty-two week low of $38.00 and a fifty-two week high of $48.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.17. The firm has a 50 day moving average price of $43.59 and a 200 day moving average price of $43.96. The company has a market capitalization of $918.48 million, a PE ratio of 5.51 and a beta of 1.32.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Wednesday, August 9th. The conglomerate reported $2.44 earnings per share for the quarter. The business had revenue of $500.93 million during the quarter. Steel Partners had a return on equity of 23.54% and a net margin of 10.77%.

Insider Activity at Steel Partners

In other Steel Partners news, President Jack L. Howard sold 4,582 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $22.94, for a total value of $105,111.08. Following the completion of the transaction, the president now owns 124,607 shares in the company, valued at $2,858,484.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Steel Partners news, President Jack L. Howard sold 4,412 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $23.00, for a total transaction of $101,476.00. Following the completion of the transaction, the president now owns 129,189 shares in the company, valued at approximately $2,971,347. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Jack L. Howard sold 4,582 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $22.94, for a total transaction of $105,111.08. Following the transaction, the president now owns 124,607 shares of the company’s stock, valued at approximately $2,858,484.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,984 shares of company stock worth $390,599. Corporate insiders own 75.20% of the company’s stock.

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently modified their holdings of SPLP. BNP Paribas Arbitrage SA acquired a new position in shares of Steel Partners in the 1st quarter valued at $122,000. Advisory Services Network LLC acquired a new position in Steel Partners in the first quarter valued at $287,000. HighTower Advisors LLC boosted its stake in Steel Partners by 3.1% in the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock valued at $792,000 after acquiring an additional 573 shares in the last quarter. Teton Advisors Inc. boosted its stake in Steel Partners by 0.6% in the first quarter. Teton Advisors Inc. now owns 93,000 shares of the conglomerate’s stock valued at $4,082,000 after acquiring an additional 600 shares in the last quarter. Finally, Steel Partners Holdings L.P. boosted its position in shares of Steel Partners by 1.1% in the 1st quarter. Steel Partners Holdings L.P. now owns 7,308,932 shares of the conglomerate’s stock valued at $320,785,000 after purchasing an additional 80,840 shares during the period. Institutional investors and hedge funds own 90.65% of the company’s stock.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.